empire Posted July 27, 2015 Share Posted July 27, 2015 Howdy Guys! Firstly I apologias for my bad grammar, But Google spell check is my friend lol. Me and my family of 3 have been planning for years to live back to the UK. We are still currently renovating our home for selling pospos, and hopefully we can get over $200k (finger cross). We haven't had the house appraised yet. Anyway the main point of me typing this because financially wise. The harder we work at it and the closer we get to September (Hopping to sell in September) the exchange rate drops even lower. We are unhappy people, What ever we get for the home, we lose around 80.000 ponds. Options that we thought of are, Rent for six months, and keep the house money in a Australian bank and once the exchange rate is good, around 50 mark then we transfer it over. while we rent for six months, that lets us a chance for look for an home and probably work our asses off too. With the China goes down so do Ozz, and at the moment The UK is going up, house prices and so on goes up. Not very good for us at all. With that said any ideas on what should be done or do? keep on staying here in Australia is not an option, We have allot more family living in the UK and I'm speaking on behalf on my other two family members that are wanted to move back are pensioners. thanks for reading Quote Link to comment Share on other sites More sharing options...
scuffythetugboat Posted July 27, 2015 Share Posted July 27, 2015 If it were me in your position, I would sell up and go and whatever the exchange rate is, change all my money and get on with my life. Where the pound is now is not a bad rate historically and who is to say that the Australian dollar may go down further. Your money sitting over here in a bank may well go down in value by the day while you wait, and add to that, you may be paying rent for a lot longer than 6 months. 67p for the $A days are long gone. Quote Link to comment Share on other sites More sharing options...
Bungo Posted July 27, 2015 Share Posted July 27, 2015 The Aus:Gbp exchange rate is not likely to return to the levels we have seen in recent years for many years. Six months is going to do nothing, other than probably strengthen the pound even more. It is the rate 2009-2014 that was unusual, now it is returning to long term normal levels. You are unlucky to have missed out on the historically strong Aud. Sometimes people get lucky, sometimes not. Quote Link to comment Share on other sites More sharing options...
Progressive Posted July 27, 2015 Share Posted July 27, 2015 It's all about risk profile. Stake the $200,000 if you can afford it; you may get lucky, you may not. You should do your own research but things are certainly stacked against the dollar at the moment, and I would suggest for at least the next couple of years. I see it going lower before it increases. 0.45 by year end I think, though have heard people discussing 0.40. Supposing you leave it for a while and it goes to the dizzy heights of 0.50 (from the current 0.47). You will be around GBP6,000 better off. If it continues its decrease you might be a further $80,000 worse off. Cut the emotional tie and make the best decision with the information you have. If its the money for a roof over your head in UK I wouldn't risk it personally. On the flip side, you are returning to a thriving economy with good job prospects and leaving a nation on the brink of recession... Quote Link to comment Share on other sites More sharing options...
newjez Posted July 27, 2015 Share Posted July 27, 2015 As above. You could be looking 5 to 10 years to get a better rate than today. Sad fact of life, UK and Australia are out of sync. I can't see anything on the horizon that will rescue the aud. If anything, the eastern GFC is just about to unfold. Of course I could be wrong. Quote Link to comment Share on other sites More sharing options...
Zack Posted July 30, 2015 Share Posted July 30, 2015 You Don't want to bank on the Aussie dollar Ever going up.(Just my opinion mind) It's on a downward spiral,The Stupid RBA Wants it to Drop more and lower interest rates.They tried all this before and it turned to disaster.They are deluded in thinking the more it drops the better the Australian Economy will get.They think they will export more.But Australia has nothing,of great value and quantity to export.Only Beef and Mutton.And Maybe Wheat And Barley.But nowhere near what revenue the Mining Boom brought into Government Coffers.Them days are long gone.If Iron Ore Falls to $40 a Ton Australia is in big trouble.I remember back in 1998 it dropped to .32 to the pound.If and it could.I fear many people wanting to go back to the UK will be Trapped here.They will loose so much money.Back in 1988 The Interest Rate To Buy A house skyrocketed to 17.95% Houses were cheap i bought two one for $34,000, and one for $66,000 for cash one that had never been lived in.Cost of living was so cheap,things were good.I think Australia wasted it's wealth,If the Liberal Government had created more industries,instead they relied on the mining.The Liberals were to blame for the Housing boom and the cost of living skyrocketing.Everything went up with the Liberals Now it's stuffed.High interest rates and low cost housing,is much better that low interest rates,and high cost housing is bad,Nobody in Authority seems thinks so. Quote Link to comment Share on other sites More sharing options...
bristolman Posted July 30, 2015 Share Posted July 30, 2015 My advice would be the day the money is available to you exchange it because the rate is only going to get worse for you. With the Oz economy trending down the the UK up the pound will continue to strengthen and the dollar weaken. As has been said there is no likelihood of that reversing anytime soon. Quote Link to comment Share on other sites More sharing options...
Gough Whitlam Posted July 30, 2015 Share Posted July 30, 2015 Agree with above. There's only one way for the Aust dollar to go and that's down. it will also begin to depreciate against the Euro at some point as Eurozone will gradually pick up too. Quote Link to comment Share on other sites More sharing options...
newjez Posted July 30, 2015 Share Posted July 30, 2015 You Don't want to bank on the Aussie dollar Ever going up.(Just my opinion mind) It's on a downward spiral,The Stupid RBA Wants it to Drop more and lower interest rates.They tried all this before and it turned to disaster.They are deluded in thinking the more it drops the better the Australian Economy will get.They think they will export more.But Australia has nothing,of great value and quantity to export.Only Beef and Mutton.And Maybe Wheat And Barley.But nowhere near what revenue the Mining Boom brought into Government Coffers.Them days are long gone.If Iron Ore Falls to $40 a Ton Australia is in big trouble.I remember back in 1998 it dropped to .32 to the pound.If and it could.I fear many people wanting to go back to the UK will be Trapped here.They will loose so much money.Back in 1988 The Interest Rate To Buy A house skyrocketed to 17.95% Houses were cheap i bought two one for $34,000, and one for $66,000 for cash one that had never been lived in.Cost of living was so cheap,things were good.I think Australia wasted it's wealth,If the Liberal Government had created more industries,instead they relied on the mining.The Liberals were to blame for the Housing boom and the cost of living skyrocketing.Everything went up with the Liberals Now it's stuffed.High interest rates and low cost housing,is much better that low interest rates,and high cost housing is bad,Nobody in Authority seems thinks so. Interesting rant. I think you put a little too much faith in the govts ability to control the economy. Some things just happen. Cheaper aud will help the economy. It will hurt the people first though. Quote Link to comment Share on other sites More sharing options...
bristolman Posted July 30, 2015 Share Posted July 30, 2015 Interesting rant. I think you put a little too much faith in the govts ability to control the economy. Some things just happen. Cheaper aud will help the economy. It will hurt the people first though. It will undoubtedly help the economy except the fact that so much is imported in Australia, soon for instance every single car on the road will be imported. Quote Link to comment Share on other sites More sharing options...
Gough Whitlam Posted July 30, 2015 Share Posted July 30, 2015 Everybody wanting a weaker Aust dollar heave ho, heave ho - it's just under 2.15 at 2.14950[TABLE=width: 629] [/TABLE] Quote Link to comment Share on other sites More sharing options...
newjez Posted July 30, 2015 Share Posted July 30, 2015 Everybody wanting a weaker Aust dollar heave ho, heave ho - it's just under 2.15 at 2.14950 Sure? Quote Link to comment Share on other sites More sharing options...
empire Posted December 28, 2015 Author Share Posted December 28, 2015 update thread, Still Here in Ozz. House up on the market by next week and It seems to be good rate. Quote Link to comment Share on other sites More sharing options...
Brumbles Posted December 29, 2015 Share Posted December 29, 2015 Empire we are in a similar boat. We have just sold our house in Aus and due to fly back in 20 Jan after being here 10 years. Hindsight is a wonderful thing and if we had gone back last year we would have been considerably better off with the exchange rate. But sometimes you just have to bite the bullit and make the best of what you have, which is what we are doing. Good luck with the move back to UK I am sure you will be fine. Quote Link to comment Share on other sites More sharing options...
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